Lion Energy (ASX: $LIO) Development Approval News

Lion Energy Limited (ASX: $LIO) has received development approval from the State Assessment and Referral Agency (SARA), the planning agency of the Queensland State Government, for its hydrogen generation and refuelling hub project located at 6 Howard Smith Drive, Port of Brisbane. The approval allows Lion to proceed with the construction phase, with the project targeting heavy mobility fleets and the public bus industry. The company has also been issued an Environmental Authority Permit to produce more than 200t of Hydrogen per year.

Executive Commentary on Hydrogen Hub Development Approval

The Government's approval represents a key milestone for the project, which can proceed to the construction phase. Lion understands that only a handful of green hydrogen projects have already received State approval to date and the swift outcome is a testimony of thorough and proficient planning by the project team. The Hydrogen Hub is geared towards heavy mobility fleets with an early focus on supplying hydrogen to domestic public bus fleets, truck fleets, and fuel cell gensets for the construction and mining industry. Lion's facility at the Port of Brisbane will be one of the first of its scale in Queensland.

Summary of Lion Energy's Hydrogen Hub Development Approval

Lion Energy Limited (ASX: $LIO) has obtained development approval from the Queensland State Government for its hydrogen generation and refuelling hub project at the Port of Brisbane. The approval allows the company to proceed with the construction phase, with the project targeting heavy mobility fleets and the public bus industry. Lion's facility at the Port of Brisbane will be one of the first of its scale in Queensland and is a major step in the company's stated hydrogen strategy. The facility is expected to commence construction in Q2 2024, with commissioning anticipated in the second half of 2024. Lion intends to utilize renewable electricity for the project and is also exploring potential solar energy investments at the Port. The company aims to provide a relatively fast refueling experience for heavy mobility users, particularly in the public bus industry, and is set to play a significant role in the development of hydrogen infrastructure in the region.